[6] Skyroot Aerospace was formed in July 2018 by former ISRO scientists Pawan Kumar Chandana, Naga Bharath Daka through the support of Vasudevan Gnanagandhi as well as a small group of entrepreneurs including CureFit founders Mukesh Bansal and Ankit Nagor.

[10][11] On 6 October 2020, the National Startup Awards 2020 were declared by the Union minister of commerce and industry Piyush Goyal, where Skyroot Aerospace emerged as the winner.

[16] On 20 May 2021, Skyroot Aerospace had raised $11 million in Series A funding round led by promoters of renewable energy firm Greenko Group (Anil Chalamalasetty and Mahesh Kolli), with participation of investors including Solar Industries and former WhatsApp Chief Business Office (CBO) Neeraj Arora, Mukesh Bansal founder of Myntra & Curefit, Worldquant Ventures, Graph Ventures, Sutton Capital, Vedanshu Investments and few other angels.

Skyroot Aerospace will be deploying these funds to grow its team and complete the full development and testing of all subsystems of 'Vikram 1' launch vehicle.

Finally on 11 September 2021, ISRO's scientific secretary and chairman of interim IN-SPACe (Indian National Space Promotion and Authorisation Centre) committee R Umamaheswaran, who represented Department of Space, Skyroot Aerospace CEO Pawan Kumar Chandana and COO Naga Bharath Daka signed this framework MoU.

[19] On 27 January 2022, Skyroot Aerospace raised of $4.5 million in a bridge round to Series B funding led by Google's founding board member Ram Shriram's Sherpalo Ventures.

The bridge round also witnessed participation by Wami Capital, existing investors – former WhatsApp chief business officer Neeraj Arora and ex-Google executive Amit Singhal.

[22] On 18 November 2022 Skyroot Aerospace performed the maiden launch of its 'Vikram S' suborbital rocket, becoming the first Indian private company to reach outer space (apogee was 89.5 km).

On 19 May 2022, Skyroot announced the successful completion of a full duration test-firing of its ‘Vikram-1’ rocket stage, representing a major milestone for the company.

The state-of-the-art technology like carbon composite case, high propellant volumetric loading up to 94%, lighter EPDM based thermal protection system, and submerged nozzle have been validated through the successful static test.

[38][39] The video of the firing[40] On 25 September 2020, Skyroot Aerospace unveiled the Dhawan-1 (named after Satish Dhawan) upper stage cryogenic engine that will power heavier-lift systems such as Vikram-II.

[44] An agreement has been signed by Nibe Space, a division of Nibe Defence and Aerospace on 9 September 2024, with Skyroot Aerospace, Centum Electronics, AgniKul Cosmos, SpaceFields, Sisir Radar, CYRAN AI Solutions, and Larsen & Toubro for the launch of India's first constellation of multi-sensor, all-weather, high-revisit Earth observation satellites.